Bitcoin Depot Shutters as Crypto ATMs Face More Scrutiny

Bitcoin Depot , the world’s largest operator of cryptocurrency ATMs, is shutting down after declaring bankruptcy, according to a Monday (May 18) press release . The company is seeking Chapter 11 bankruptcy protection and will begin winding down its business and selling its assets, the release said. Bitcoin Depot CEO Alex Holmes said in the release that the bankruptcy is happening despite efforts to improve fraud protection measures for customers by offering “enhanced identity verification, custo